Should I buy a warranty...?

[MattWill]

I've been offered a warranty (£1,590 for 12 months + extra 2 months free) by WarrantyWise. I attach screenshots showing what's included and what isn't. My car is a mint condition 2005 Spyder with 23,000 miles, serviced by Emblem (Maserati specialists) and the policy covers their labour rates.

What do people think - worth it or not?

Emblem think probably not - say it's better to put the money in a repair pot but did make the point that an engine or gearbox rebuild will cost £5k+. I've been lucky so far but it's 17 yrs old and Italian motors aren't German motors!

Anyone with a 4200 or Spyder got any experience of the stuff covered (or not covered) going wrong and costing squillions...?

 

[Gazcw]

Nope. I would bank it.

 

[philgarner]

Engines and gearboxes are reliable. What's likely to fail on your Spyder that costs ££££:

• Wishbones (get them inspected)
• F1 pump - (can always use the Alfa one) - not covered
• Clutch - not covered
• Hood mechanism ( I don't know anything about these, just a wild guess) - not covered

TL;DR - don't bother

 

[UlstermanAbroad]

If your car has a solid history and doesn't seem to have been abused and Emblem tell you that the engine and gearbox are in good shape. I would tend to bank the money and spend it on servicing. Because you KNOW that you'll have servicing etc to pay. I've never run a 4200, though FWIW, I've had convertibles since I got my licence and if the hood is electric, but you can still operate it manually, if it should fail, then that's not a bill that you HAVE to swallow until you feel like it.
Every manufacturer, including the Germans and Japanese have made engines of dubious quality and often with inherent faults that cause them to fail prematurely. Look at the owner's class actions in the U.S. for examples.
If I owned an exotic Ferrari where the cost of replacing major parts was eye watering, I'd be inclined to buy a warranty, so long as the parts I might be concerned about were covered, as was the labour rate at my specialist.
But, then I would be exceptionally unlikely to buy a Ferarri. It'd make more sense to rent one, for a track day etc.
Obviously, all of the above is FWIW. Let us know in a year, how you got on

 

[safrane]

Had 3 coupes and neither the engines or gearbox gave me* any problems (* my first did have a new Maserati Factory gearbox at c£18k at 12 months under warranty but before my purchase).

As others have said, bank the money as it will be small things that fail and they will not be covered by the warranty, but they will still cost in the hundreds to fix.

 

[allandwf]

No. I wouldn't , never have.

 

[FIFTY]

If you are planning on doing loads of miles in it as a daily then things might start to fail on an old car like this and you will notice hence the warranty will be useful.

Weekend car with use to suit it's probably not worth it, by the time something fails the warranty will have expired (sods law and all that)

Check the heater matrix and all of the electrics/buttons work as well.

 

[midlifecrisis]

Selling insurance or warranties is basically selling fear and then when a claim comes in, evading paying out.

Don't bother. Spend the money on fuel and carry out regular Italian tune up maintenance. It's the best policy.

 

[Taliesyn]

I have a 2004, 4200, 64,000 miles. I took out a lifetime warranty when I purchased the car 10 years ago(sadly no longer available). It allows me £1000 towards covered repairs. Doesn't go very far, but helps.

Here are a few of the issues I have encountered:
Replacement of reverse gear assembly.
Secondary air pump.
Steering rack.
Oil and water pump - Not covered under insurance due to corrosion. Very, very expensive repair.
Lambda sensors
Catalytic converters - not covered. Couldn't afford Maserati, so had a pair or Larini's, sound great, not too in your face.
Temperamental central locking (click clacking lock/unlock - relay, located bottom of A frame underside carpet.
Boot lock.

Multiple electrical issues not covered under the warranty. These are becoming more frequent with age.

With the exception of the oil and water pump, most repairs have come in around a £1000,

Some of these policies require servicing to be done by specialist /main dealer, which adds another chunk of money. Even if you are not doing the mileage, to keep the policy valid you will need to service annually. On balance if I was paying an annual premium I'd put the money into a repair pot and do my best not to spend it on a holiday!

 

[Ewan]

Don't bother with the warranty. Bank the money instead.

 

[davy83]

The other thing worth considering is that most of these warranty type of things will go to extreme lengths to avoid paying out, and probably not worth what they say it is.

 

[MattWill]

Thanks all - sound advice (although spooked by Talisyn’s list of woes!)

 

[philw696]

The Best Policy as others are saying is keep some money in the war chest for a rainy day and just enjoy your car

 

[Devonboy]

No....be your own insurer. The wear and tear clauses/consumable argument on a older car......makes these warranties a lottery.

Set up an account and use that for your car

 

[Gp79]

Don’t bother with it.

At the age of car everything can be put down to wear / tear or some other exclusion.